Biomerica (NASDAQ:BMRA) Stock Price Crosses Below 200-Day Moving Average of $2.65

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Biomerica, Inc. (NASDAQ:BMRA)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.65 and traded as low as $2.97. Biomerica shares last traded at $3.03, with a volume of 1,173 shares.

Separately, B. Riley set a $6.00 price target on Biomerica and gave the stock a “buy” rating in a research note on Friday, July 19th.

The company has a market capitalization of $28.03 million, a price-to-earnings ratio of -11.15 and a beta of 1.45. The firm’s 50 day simple moving average is $3.13 and its 200-day simple moving average is $2.66.

Biomerica (NASDAQ:BMRA) last announced its quarterly earnings data on Friday, August 30th. The company reported ($0.08) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.08). The company had revenue of $1.17 million during the quarter, compared to the consensus estimate of $1.36 million. Biomerica had a negative net margin of 44.07% and a negative return on equity of 54.33%. On average, analysts forecast that Biomerica, Inc. will post -0.34 earnings per share for the current fiscal year.

A hedge fund recently bought a new stake in Biomerica stock. Susquehanna International Group LLP bought a new position in shares of Biomerica, Inc. (NASDAQ:BMRA) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 17,688 shares of the company’s stock, valued at approximately $46,000. Susquehanna International Group LLP owned approximately 0.18% of Biomerica at the end of the most recent quarter. 1.24% of the stock is owned by institutional investors.

About Biomerica (NASDAQ:BMRA)

Biomerica, Inc, together with its subsidiaries, develops, manufactures, and markets medical diagnostic products for the early detection and monitoring of chronic diseases and medical conditions. The company's diagnostic test kits are used to analyze blood, urine, or fecal samples from patients in the diagnosis of various diseases and other medical complications; or to measure the level of specific hormones, antibodies, antigens, or other substances, which exist in the human body in extremely small concentrations.

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